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Amazon (NASDAQ:AMZN) plans to invest €15.7B (about $17B) in Spain to expand its cloud computing infrastructure by setting up data centers in the country.
Amazon Web Services, or AWS, said the investment will help support an estimated 17,500 jobs in local businesses on an annual average basis, and will contribute an estimated €21.6B to Spain’s gross domestic product, or GDP, through 2033.
The new €15.7B planned investment increases AWS’ original plan, announced in 2021, to invest €2.5B in Spain, the company added.
AWS will expand its cloud infrastructure in Aragón with the help from the regional government, and 40% of the estimated 6,800 jobs will be based in Aragón. In addition to jobs, over half (€12.9B) of the anticipated GDP contribution will come from Aragón, according to the company.
“That AWS data centers are 100% powered with renewable energy is absolutely aligned with the AI Government Strategy approved just few days ago,” said José Luis Escrivá, Minister for Digital Transformation and the Public Service.
The Aragón government noted that the funding would be spread across 10 years in the region, which is already a hub for Amazon in Spain. The government called the plan “the largest technology investment in Spain and Southern Europe,” according to a report from Reuters.
Earlier this month, AWS announced that it intends to invest €7.8B ($8.44B) in Germany and about $1.3B in France to boost its cloud computing infrastructure.